Pakistan, IMF strike $6 billion deal: Hafeez ShaikhThe government has struck a deal with the International Monetary Fund (IMF) on financial packages for about $6 billion, PM’s Adviser on finance Dr Abdul Hafeez Shaikh announced on Sunday.
He said this while speaking to state-run Pakistan Television (PTV).
The staff level agreement on economic policies, which could be supported by a 39-month Extended Fund Arrangement (EFF) aimed to support Pa...

Bailout talks with IMF hit last-minute snagIn a last minute hitch, talks between Pakistan and the International Monetary Fund (IMF) have reached a deadlock due to change in goalpost by the fund and the prime minister’s reservations over heavy taxation, resulting into extension in parleys.
There were at least three main sticking points that led to inconclusive talks till the last day of the IMF visit, said sources in the Ministry of Fina...

China to support Pakistan in crackdown against human traffickersBeijing on Friday said that if any organisation or individual commits a crime in Pakistan under the guise of cross-border marriage, China will support Pakistani authorities in cracking down on such activities in accordance with Pakistani law.
In a statement – days after incidents of human smuggling involving Chinese gangs emerged – a spokesperson of the Chinese Embassy in Pakistan said, “We hav...

Asad Umar to head NA finance committeeThe federal government has decided to appoint Asad Umar as the chairman of the National Assembly’s Standing Committee on Finance.
The decision was taken after Prime Minister Imran Khan and Foreign Minister Shah Mahmood Qureshi held separate meetings with the former finance minister to convince him to rejoin the federal cabinet.
While Umar refused their request to become a part of the cabinet...

PM champions LG system in Punjab as harbinger of changeISLAMABAD:
Prime Minister Imran Khan announced on Monday road map for two-tier local government elections in Punjab to introduce new municipal system in the province, replacing the ‘Dehat’ system with ‘Panchayat’ system.
Talking to senior journalists in Islamabad days after the Punjab Local Government Act 2013 was replaced the Punjab Local Government Act 2019, Khan said direct elections will ...

Nawaz Sharif to turn himself in to jail authorities on May 7Former prime minister Nawaz Sharif would turn himself in to jail authorities on May 7, his Pakistan Muslim League-Nawaz (PML-N) party leaders said on Saturday, a day after his permanent bail plea rejected by the Supreme Court.
The apex court had dismissed Nawaz’s review petition seeking permanent bail on medical grounds and the permission to go abroad for treatment.
The former premier, who h...

SBP governor quits, FBR chairman removedThe Prime Minister Imran Khan-led government has fired the governor of the central bank and the chairman of the tax collection body, two senior government officials told Reuters on Friday, in another setback to efforts to tackle economic turmoil.
“The government has decided to remove the governor of the State Bank and the chairman of FBR,” a Finance Ministry source said, referring to State Bank...

Army generals didn't help PTI come to power: PM ImranPrime Minister Imran Khan on Wednesday hit out at the opposition saying that his party, the Pakistan Tehreek-e-Insaf (PTI), came into power through its own performance rather than help from any army general.
“No general Jilani brought the PTI up,” he said, while addressing a convention to mark 22nd anniversary of Pakistan Tehreek-e-Insaf in the federal capital.
The PTI chief said it was sham...

Govt defers up to 15% increase in petroleum prices ahead of RamazanISLAMABAD:
A day after regulatory authority had proposed a whopping increase of Rs14.38 per litre in petrol price, the government on Tuesday deferred the decision to increase prices of petroleum products by up to 15 per cent ahead of Ramazan.
The decision comes after the Oil and Gas Regulatory Authority (Ogra) had recommended the hike in prices on April 29 to the federal government.
The i...

Legal course to be pursued against PTM, says Pakistan’s militaryThe Pakistan Army on Monday said the state will pursue legal action against the Pashtun Tahafuz Movement (PTM) while accusing the group of receiving funding from Indian and Afghan intelligence agencies.
Director General Inter-Services Public Relations (ISPR) Major General Asif Ghafoor, while addressing a press conference in Rawalpindi, said he had personally met the movement’s leadership and li...